BlackRock Inc. Makes New Investment in Keurig Dr Pepper, Inc $KDP

Key Points

• BlackRock acquired 143.5 million Keurig Dr Pepper shares during the second quarter, valued at approximately $4.7 billion and representing about 10.55% of the company. Institutional investors and hedge funds collectively own 93.99% of KDP.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $34.75. Citigroup raised its target to $37 and assigned a “buy” rating.
• Keurig Dr Pepper reported quarterly EPS of $0.57, beating estimates of $0.54, while revenue reached $7.31 billion, up 75.6% year over year and above analyst expectations.

BlackRock Inc. acquired a new stake in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm acquired 143,527,185 shares of the company's stock, valued at approximately $4,697,645,000. BlackRock Inc. owned about 10.55% of Keurig Dr Pepper as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Pallas Capital Advisors LLC bought a new position in Keurig Dr Pepper in the second quarter valued at about $303,000. Deutsche Bank AG bought a new stake in Keurig Dr Pepper during the 2nd quarter worth about $181,620,000. Perigon Wealth Management LLC acquired a new position in Keurig Dr Pepper during the 2nd quarter valued at about $718,000. Commerzbank Aktiengesellschaft FI acquired a new position in Keurig Dr Pepper during the 2nd quarter valued at about $2,601,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Keurig Dr Pepper in the 2nd quarter valued at about $109,315,000. 93.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KDP has been the subject of several analyst reports. Evercore set a $30.00 price target on shares of Keurig Dr Pepper in a research report on Friday, April 24th. BNP Paribas Exane raised shares of Keurig Dr Pepper from an "underperform" rating to a "neutral" rating and set a $28.00 price objective on the stock in a research note on Wednesday, April 22nd. The Goldman Sachs Group raised shares of Keurig Dr Pepper from a "neutral" rating to a "neutral" rating in a report on Thursday, June 25th. Weiss Ratings reiterated a "hold (c)" rating on shares of Keurig Dr Pepper in a research report on Friday, August 7th. Finally, Citigroup increased their price target on Keurig Dr Pepper from $32.00 to $37.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. Ten analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, Keurig Dr Pepper presently has an average rating of "Moderate Buy" and a consensus price target of $34.75.

Keurig Dr Pepper Trading Up 1.7%

KDP opened at $30.79 on Wednesday. The firm's fifty day moving average is $31.14 and its two-hundred day moving average is $29.28. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.28 and a current ratio of 0.48. The firm has a market cap of $41.90 billion, a PE ratio of 31.10, a price-to-earnings-growth ratio of 1.40 and a beta of 0.40. Keurig Dr Pepper, Inc has a twelve month low of $24.88 and a twelve month high of $35.94.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.03. Keurig Dr Pepper had a net margin of 7.10% and a return on equity of 10.80%. The company had revenue of $7.31 billion during the quarter, compared to analyst estimates of $7.23 billion. During the same quarter in the previous year, the business earned $0.49 EPS. The firm's revenue was up 75.6% on a year-over-year basis. Equities research analysts anticipate that Keurig Dr Pepper, Inc will post 2.3 EPS for the current year.

Keurig Dr Pepper Company Profile

Keurig Dr Pepper NASDAQ: KDP is a North American beverage company formed in July 2018 through the combination of Keurig Green Mountain and Dr Pepper Snapple Group. The company designs, manufactures, markets and distributes a wide range of hot and cold beverages and related equipment, combining Keurig's single‑serve coffee systems with a large portfolio of carbonated and noncarbonated drink brands. It operates a network of manufacturing, packaging and distribution facilities to supply retail, foodservice and e-commerce channels across its served markets.

The company's product mix includes single‑serve coffee brewers and coffee pods under the Keurig brand as well as a broad assortment of branded beverages.

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